President Donald Trump signed a major Dodd-Frank rollback into law Thursday, hoping to bring regulatory relief to community banks across the U.S. The president explained Dodd-Frank’s costly regulations gave large banks a negative advantage at the cost of small banks throughout the country. Click the headline to read more.

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One of the top Republicans in Congress lays the blame for Fannie Mae and Freddie Mac needing money from the government for the first time since 2012 not on the Republican tax plan’s reduction of the corporate tax rate, but rather, squarely at the feet of Federal Housing Finance Agency Director Mel Watt.

If you’ve been playing close attention, you knew this day was coming, but that doesn’t make it any less shocking. Fannie Mae needs money from the government for the first time since 2012. So, how did we get here? The easy answer is to blame the Republican tax plan, and in many ways, that’s correct… but it’s far more complicated than that.

Fannie Mae reported a net loss of $6.5 billion and comprehensive loss of $6.7 billion for fourth quarter 2017. The company also added it expects to request an expected billion-dollar provision from the Treasury to eliminate its net worth deficit.

The Federal Housing Finance Agency announced each government-sponsored enterprise is now entitled to a $3 billion capital reserve. Also in exchange for the capital cushion change, Treasury gets an additional $3 billion a piece in senior preferred stock. But, there's still a catch.

On Thursday, the Republicans finally released their highly anticipated tax reform plan, and as it turns out, the Tax Cuts and Jobs Act could bring a flashback to the housing crisis that many thought they’d never see again – another bailout of Fannie Mae and Freddie Mac, according to an investigation by HousingWire.

Fannie Mae’s credit risk transfer business continues to grow, in which the GSE transfers a portion of the mortgage credit risk on some of the recently acquired loans in its single-family book of business to private investors.

The Consumer Financial Protection Bureau’s new arbitration rule continues to take fire from all sides with the latest attack directed from the U.S. Department of the Treasury. A new report shows the rule would impose extraordinary costs, and that the CFPB failed to justify the need for these costs.

Every day, it seems there’s a new rumor surrounding the apparently looming departure of Consumer Financial Protection Bureau Director Richard Cordray. But regardless of what happens to Cordray, the way the CFPB handles enforcement could be changing as we speak. Plus, the senators from Nevada call on the mortgage business to grant relief to victims of the Las Vegas shooting. All that, and more, in your Monday Morning Cup of Coffee.

The Treasury is expected to report Monday on rolling back Dodd-Frank Act and other financial regulations. Back in February, the president issued an executive order directing the Treasury to investigate these financial regulations, and we're about to get a look at which regulations could be on the chopping block.

Treasury Secretary Steven Mnuchin may be done with the OneWest Bank and its subsidiary, Financial Freedom. But it appears that another section of the government isn’t done with Financial Freedom quite yet. The Department of Justice announced Tuesday that Financial Freedom agreed to an $89 million settlement over reverse mortgage allegations, some of which allegedly took place while Mnuchin was chairman of OneWest.

This month inHousingWire magazine

He wears t-shirts to his televised interviews; not very CEO. He played sports at a high level, but rarely brings it up and when he does he talks about it as a mere chapter in his life. Honestly, who plays a Super Bowl and doesn’t describe it as the defining moment in their personal journey? Casey Crawford, that’s who. His family is a big part of his life of course, but he talks about his even larger family — his coworkers — in terms that are just as glowing.

Feature

One of the things that has bedeviled mortgage financing post-crisis has been the absence of the private label mortgage backed securities market. During the peak years, private label MBS issuance topped $1 trillion. In 2017, only $70 billion of private label RMBS were issued, although that is a big increase from 2016.

Commentary

Digital technology has disrupted businesses and industries from publishing to public transportation, so can the mortgage industry be far behind? Actually, anyone who’s applied for a mortgage recently will have recognized that things are already changing fast.